Crypto Contest November 27: Verge
Verge (XVGUSD) has broken out of the triangle pattern in the daily chart.
(Chart courtesy of Tradingview.com)
Elliott Wave Analysis
In Elliott Wave terms, Verge began a wave one advance on October 21. The red wave one (blue sub-waves i-ii-iii-iv-v, leading diagonal) finished on November 6, and the red wave two (blue sub-waves a-b-c) correction ended on November 12. If this wave count is correct, Verge should be heading next towards the November 6 peak in the red wave three.
(Chart courtesy of Tradingview.com)
Looking at the daily chart, I believe Verge is currently in the red wave three (blue sub-wave iii). The red wave three began on October 21.
(Chart courtesy of Tradingview.com (log scale))
In the weekly chart, Verge is most likely in the red wave three (blue sub-wave iii).
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Verge is a privacy coin. Here is a short "official" introduction video of Verge.
(Source: https://vergecurrency.com)
If you think this analysis is correct, upvote this post and upvote the comment "Verge will takeout the November 6 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Verge will drop below the October 21 low".
If you think Verge is in a range, upvote this post and upvote the comment "Verge will stay in a trading range between the October 21 low and the November 6 peak until December 28".
You can upvote the comment until 3 PM EST November 28 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
Verge will stay in a trading range between the October 21 low and the November 6 peak until December 28 (20 voters as of 3 PM EST November 28: helikopterben, nomadics, lydon.sipe, eirik, twinner, me-tarzan, lucasgabd, glennolua, catena, tzap90, starline, mirda, richard78624, dirty.hera, andy23, ragnaros, napkin, fernwehninja, coolthings, koskl).
Verge will takeout the November 6 peak (29 voters as of 3 PM EST November 28: bleujay, bentleycapital, gregory-f, flemingfarm, simonjay, reconnectnature, toofasteddie, themovieplace, jznsamuel, mprgrmmr, criptorafa, digitalking, heroic15397, cryptotem, angelgarz, razorwave8, ahinga, carlosdaniel, mihail.tsvetkov, kanoe, me-do, plumygg, m3rcos1ty, elisablogs, sevinwilson, heidelbaer, margaritaradkova, incrediblesnow, medicbtom).
A coin which is synchronized with the mainstream coin market nicely.
You won.
Verge will drop below the October 21 low (5 voters as of 3 PM EST November 28: crokkon, anetchen, kooshikoo, cassidyandfranks, gunsmithing).